Vodafone bid talk boosts European companies

NEW YORK: US-listed shares of foreign companies rose on Tuesday, helped by European telecom companies after rumors of a multi-billion-pound break-up bid for a UK telecoms group.

US-traded shares of Vodafone Group rose 3.8 percent to 29.41 after a Financial Times Alphaville blog cited "usually reliable people" as saying that Verizon Communications and AT&T have been working together on a breakup bid for Vodafone.

Vodafone, the world's second largest mobile operator, has been at the center of deal speculation in recent months, linked to its ownership of a 45 percent stake in US mobile operator Verizon Wireless.

Vodafone's shares were the most active on the Nasdaq, with more than 30 million shares changing hands.

The BNY Mellon index of leading American depositary receipts rose 0.8 percent, while the Standard & Poor's 500 index  gained 0.5 percent.

The BNY Mellon index of leading European ADRs rose 1 percent. Other European telecom companies were higher, including France Telecom, up 0.4 percent at $10.20.

The BNY Mellon index of leading Asian ADRs rose 0.8 percent.

The BNY Mellon index of leading Latin American ADRs ended down 0.4 percent.